Sounds like a lead-in to a joke, but this is no joking matter. A Kansas City woman, Maria Guadalupe Mejia, recently sued Portfolio Recovery Associates, LLC for violation of the Fair Debt Collection Practices Act. The jury awarded her $83 million! Wait……what? You...
Back in 2005, tough new laws were passed that changed bankruptcy forever. The 2005 Bankruptcy Reform Act was spearheaded by large credit cards companies in the hope of the eventual elimination of bankruptcy. For several years they would present their bill to congress...
When you think of the word bankruptcy, it may be difficult to think of something less appealing. Dental visits… tongue-scrapings…proctology examinations…toe fungus…YUCK!!! But in reality, bankruptcy is not the nasty, ugly thing that most people think of....
ar·bi·tra·tion/,ärbətrāSH(ə)n/ noun: arbitration; plural noun: arbitrations1. the use of an arbitrator to settle a dispute; The submission of a dispute to an unbiased third person designated by the parties to the controversy, who agree in advance to comply with the...
Okay, fine I was never a debt collector. But I was a teenager. This blog will be all about my teenage years and the angst that came with it. No? Okay, perhaps then I will blog about debt collectors and the angst that comes with them. Better? Okay, lets continue… In...
I guess the first thing to know when considering this subject, is just who are the 1%? Well, it varies from year to year depending on many factors, but for the most part the 1% earn between $350,000 to $500,000 per year, just to join the club. They consist of 1.4...
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